Sports Direct has upped its stake in struggling department store chain Debenhams from 23% to 29.7%.
Liam Rowley, head of strategic investments at Sports Direct, said: “We see huge value for both companies in a strategic partnership between Debenhams and Sports Direct.
“There are obvious synergies that can be achieved through the integration of our respective web operations. We also see opportunities to work together internationally.
“Importantly, there is scope for greater collaboration in the UK in order to roll out an elevated offering to consumers. We believe Sports Direct can complement Debenhams very well across the spectrum.”